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The ledger of Chacha Vatija Unity Limited contained the following account balances at December 31, 2019, the end of company's fiscal year. Accounts Balances ($)

The ledger of Chacha Vatija Unity Limited contained the following account balances at December 31, 2019, the end of company's fiscal year.

Accounts Balances ($)

Cash 2230

Accounts Receivable 22200

Inventory 36100

Supplies 1080

Prepaid Rent 9430

Machinery 23000

Accumulated Depreciation-Machinery 9940

Equipment 63000

Accumulated Depreciation-Equipment 7580

Land 74000

Accounts Payable 9720

15% Debenture 31000

Common Stock ($ 2.5 par value) 41000

Additional Paid in Capital-Common Stock 41900

Retained Earnings 59100

Sales 542100

Sales Returns and Allowances 8000

Sales Discount 3600

Salaries Expense 75800

Cost of Goods Sold 385800

Loss from employee strike 4510

Wages Expense 7730

Rent Expense 12460

Interest Expense 3400

Advertising Expense 11000

Rent Revenue 3600

Other Administrative Expense 2600

Additional Data:

1. The accountant has forgotten to record the issue of 1,000 common shares @ $4.5 each on December 21, 2019.

2. 10% cash Dividend has been declared on the common stock.

3. The company is under 30% tax bracket.

4. Machinery is being depreciated @20% under straight line method, Equipment is being depreciated @30% under reducing balance method.

5. Supplies actually on hand is $ 200.

6. Physical check on December 31, 2019 reveals that inventory actually on hand is $ 35,200.

From the above information, prepare the followings:

(a) Multistep income statement for the year ending December 31, 2019;

(b) Stockholder_s Equity Statement as at December 31, 2019; and

(c) Classified Balance Sheet as at December 31, 2019.

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